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Nokia Phone Financing Program Brief
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Nokia Phone Financing Program Brief

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  • 1. Nokia Phone Financing Program 2009 RBAP-MABS National Roundtable Conference May 12-13, 2009 Hyatt Hotel and Casino Manila John Quimbo President, Altus Communications
  • 2.
    • Limited mode of transportation
    • High cost of communication
    • Presence of a middleman in every business transaction
    • Limited access to market information
    • Limited access to banking facilities
    Before Technology:
  • 3. Technological Advances Are Allowing The People in the Rural areas to respond in new and efficient ways:
    • Mobile devices – for both buyers and sellers, to aid in personalized and faster transactions and enable higher levels of service.
    • Wireless payment alternatives – To reduce transaction costs and provide added convenience to customers.
  • 4.
    • Using this technology can bridge a long distance communication
    • Provides fast and easy transaction with banks
    • Buyers or sellers can respond with speed to any customer demand and market
    • opportunity.
    • Allows rural banks to expand their services to clients in rural areas without
    • increasing costs or taking on additional risk
    • Saves time, money, and energy
    Technological Advances Are Allowing The People in the Rural areas to respond in new and efficient ways:
  • 5. Enhancing Access to Rural Businesses
    • The leading brand in mobile devices
    • Has a dominant market share
    • Appointed distributor of NOKIA
    • devices in 2007.
    • Have strategic warehouses
    • Presence of retail partners nationwide
    • Has a stronghold in the distribution
    • business.
  • 6.
    • It’s a program for rural bank customers in the countryside that gives them access to a Nokia mobile phone through very easy financing terms provided by rural banks.
    What is Nokia Phone Financing Program?
  • 7. How Does It Work?
    • Rural bank customer secures a loan from the rural bank to purchase a Nokia mobile phone.
      • Loan policy is determined by the rural bank including payment terms and interest rates.
      • We recommend something that’s easy to understand and communicate.
      • E.g. Bangko Kabayan provide 6 and 12 month installment terms at 12%pa interest rate.
    • Rural bank customer goes to the appointed Nokia partner retailer to retrieve the phone with the Notice of Loan Approval from the rural bank.
  • 8. How Does It Work?
    • The appointed Nokia partner retailer collects payment from the rural bank.
    • Rural bank starts collecting monthly installment from the customer.
    • Nokia provides marketing materials such as banners, posters and flyers to promote the program to the local market.
  • 9. Participating Rural Banks BK Participating Branches: Batangas Ibaan Mabini Rosario San Jose San Pascual Lemery GM Participating Branches: Cabanatuan Tarlac
  • 10. How Can a Rural Bank Enroll in the Program?
    • The rural bank can contact Nokia’s authorized Distributor for the Nokia Phone Financing Program.
      • Mac Dang, Altus Communications
      • +639177951200 or mgdang@altus.com.ph
    • Rural bank has to sign a Memorandum of Understanding with Nokia’s authorized Distributor and the appointed Nokia partner retailer/s.
  • 11. Thank You!